Cascador, Nigeria’s premier accelerator for mid-stage entrepreneurs, has introduced a landmark partnership with Sterling Bank to launch a daring new debt funding mannequin to unlock progress for Africa’s most promising ventures.
Backed by a $2 million Catalytic Fund, the partnership introduces versatile, founder-friendly financing for Cascador alumni; pairing low-interest debt with enterprise mentorship, tailor-made compensation phrases, and dramatically decreased collateral necessities.
“It is a breakthrough second for Cascador and for the entrepreneurs we serve,” mentioned Dave DeLucia, Founding father of Cascador. “By means of our partnership with
Sterling Bank, we’re deploying capital in a manner that’s really catalytic -pairing mentorship and training with entry to capital that’s structured across the real-life money flows of rising
companies.”
Sterling Bank will function fund custodian and structuring associate, providing entrepreneurs entry to a various portfolio of devices, from gear loans to revenue-based financing, designed for mid-stage SMEs in sectors important to Nigeria’s future: healthcare, logistics, training, manufacturing, agri-business, and {financial} inclusion.
“We’re proud to help purpose-driven entrepreneurs with capital that meets them the place they’re -flexible, reasonably priced, and designed across the realities of constructing a enterprise in Nigeria,” mentioned Abubakar Suleiman, Managing Director and CEO of Sterling Bank. “This isn’t nearly funding, it’s about creating a brand new type of {financial} help system that prioritises influence over formality and progress over paperwork. We hope
the fund presents a brand new mannequin for capital deployment -one that different establishments and personal buyers throughout the continent can undertake to unlock the potential of Africa’s entrepreneurs.
Not like standard lending, the Sterling-Cascador mannequin emphasises belief, traction, and long-term viability.
Beneficiaries will take pleasure in customized compensation plans and reducedrisk lending, supported by a first-loss assure from Cascador and technical
help from main enterprise advisors.
Functions for the Catalytic Fund opened February 14th and can culminate in a highprofile, invitation-only Pitch Day on Could 14, 2025 the place finalists will current to an elite funding committee composed of enterprise leaders, college advisors, and funding professionals. Cascador will allocate each debt and fairness funding primarily based on influence, enterprise viability, and long-term progress potential.
Further companions embrace the Nigeria Sovereign Funding Authority (NSIA) and the Development Bank of Nigeria (DBN), who will sponsor innovation awards for prime performing ventures on the Pitch Day occasion.
Since 2019, Cascador has supported over 60 entrepreneurs who’ve collectively raised greater than $55M and created hundreds of jobs throughout the continent. The launch of the
Catalytic Fund, and the collaboration with Sterling Bank, represents a strong new chapter in Cascador’s mission to strengthen Africa’s entrepreneurial ecosystem.
Entrepreneurs are inspired to use for admission to Cascador’s 2025 accelerator program and, in the end, eligibility for the Catalytic Fund.
About Cascador
Cascador is an annual, intensive program centered on creating mid-stage Nigerian entrepreneurs who’re scaling mission-driven firms. By means of a singular mix of
training, mentoring, and personalised help, Cascador empowers entrepreneurs to make a constructive influence by way of job creation, innovation, and improvement of alternatives for
underprivileged and marginalized communities. Be taught extra at cascador.org.
About Sterling Bank
Sterling Bank is a number one Nigerian industrial {bank} and one among Africa’s most progressive {financial} establishments, well known for its daring strategy to buyer advocacy and moral
banking. From eliminating native switch charges by way of its OneBank platform to championing inclusive entry to capital, the {bank} has constantly led with influence. Famend for its HEART
of Sterling technique, which focuses main investments into the Healthcare, Schooling, Agriculture, Renewable Power, and Transportation sectors of the Nigerian economic system, Sterling
continues to construct {financial} options that transcend banking to allow dignity, mobility, and alternative for hundreds of thousands of Nigerians. Discover Sterling Bank choices at sterling.ng.
